IFRS Notes

Retrospective application of changes in accounting policies

IAS 8-pr19
Changes in accounting policies are applied retrospectively.

IAS 8-pr22
asc 250-10-45-5: U.S. GAAP
Retrospective application
Apply new accounting policy as if the policy had always been applied.

(1) For the earliest prior period presented,
opening balances of equity components affected are adjusted

(2) For each prior period presented,
other comparative amounts disclosed are adjusted


IAS 8-pr23
Retrospective application is limited,
if it is impracticable to estimate either of the following:
(1) period-specific effects
(2) cumulative effect of changes.

IAS 8-pr24
asc 250-10-45-6: U.S. GAAP
If it is impracticable to estimate period-specific effects,
apply new accounting policy,
at the beginning of the earliest period for which
retrospective application is practicable.

IAS 8-pr25
asc 250-10-45-7: U.S. GAAP
If it is impracticable to estimate cumulative effect of changes,
adjust comparative information
to apply new accounting policy prospectively
from the earliest date practicable.